Raghuraj Puri, the co-accused in the multi-crore Citibank fraud, was released on bail on Wednesday from the Bhondsi jail after he submitted a bail bond of Rs. 5 lakh and surrendered his passport at a trial court. His son Shivraj Puri is the prime accused in the Rs. 400-crore scam.
He, along with his son, got bail from the Punjab and Haryana High Court on Monday. Shivraj is expected to submit the bail amount and his passport on Thursday. His bail amount will be decided by the chief judicial magistrate on the basis of the HC order, which reads that it "will be a heavy bond".
Raghuraj had been lodged at Bhondsi jail since April last year. Jail superintendent Harinder Singh said he appeared calm while being released.
Shivraj, a former relationship manager with Citibank, had allegedly siphoned around Rs. 400 crore from various customers to some fictitious accounts.